Question 4 17 pts Snowy Company has two products, Snow and Ice. Overhead costs are presently allocated to the two products based on the labor-hours used to produce each product. It takes one labor-hour to make One unit of each product. The chief financial officer has suggested converting to activity-based costing. Using the data collected shown below, calculate the activity rates under activity based costing and apply overhead under activity based costing to Product SNOW: (Remember you can submit calculations for possible partial credit.) Ice Activity Cost Driver Production Number of setups Quality Control Number of inspections Shipping Number of units shipped Total Overhead Amount Snow $ 50,000 20 30 $ 80,000 12 28 $ 90,000 30,000 15,000 $220,000 a) Calculate the activity rates for: Production $ per set up Quality control $ per inspection Shipping $ per unit b) Apply overhead to SNOW: Production $ Quality control $ Shipping $ Total Overhead applied to Snow $